Auckland based angel investment network the ICE Angels has announced that 2013 was its best year on record. Members of the ICE Angels collectively invested $7,890,819 into 26 companies, positioning the network as one of the most active in the world.
This figure is nearly double the overall amount invested in 2012 and 2011, representing about a 20% increase in market share by the ICE Angels.
In 2013, the ICE Angels hosted 10 investment events featuring 39 investment pitches. More than half of these companies successfully attracted investment. This success rate is both an improvement over previous years and is on par with the leading angel networks around the world.
The ICE Angels also inducted 37 new investors last year including global CEOs, exited entrepreneurs, and professional investors. Adam Clark, the founder of mCom and an early graduate of the Icehouse’s incubator, is one of a number of new members that have joined the network following successful careers overseas.
Ken Erskine, Director of Startup and the ICE Angels at The Icehouse, believes there are a number of reasons behind last year’s success.
“To begin with, greater coordination with other investment groups around New Zealand has worked well to enable more startups to raise more money”.
The ICE Angels syndicated with Sparkbox, Stephen Tindall’s k1w1, Movac, AngelHQ, Arch Angels, the Enterprise Angels, and many others throughout last year. They also provided angel funding to four startups that received seed funding from the 'Global from Day One' seed fund.
“We’re also excited by the effectiveness of the new initiatives we launched in 2013, which better engage investors and entrepreneurs. The Lead Investors Forum- a full day workshop involving 20 investors and two startups- resulted in both companies securing the funding they required,” Erskine continues.
“Our activity has also received a boost on the back of a lot of good news coming from both our portfolio and the broader startup market.
“Last year, ICE Angel’s portfolio companies including Booktrack, Stolen Rum, and Nexus6 secured significant amounts of venture capital, launched new products, and successfully broke into overseas markets,”says Erksine.
The ICE Angels have invested in 55 companies since being founded by The Icehouse in 2004. Approximately 80% of these investments were made in the last five years. This increased engagement and investment, according to ICE Angel’s advisory board member, Mark Wynne, is only the start of good things to come.
“The outlook for 2014 is already looking good. e’ve met with dozens of fascinating startups and have already invested nearly $1m in companies including Eftplus. We’re also excited by the changes and enthusiasm in the market. The sign off of crowdfunding by the government opens the door for many more kiwi startups to raise seed funding and we’re looking forward to getting involved with those that require further funding and expertise.”
March 5, 2014